Malaysian rubber market seen to continue bearish senyiment
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The Malaysian rubber market is expected to continue its bearish momentum this week on anticipation of weaker demand.
Dealers said weak trade data from China and persistent worries over the European debt crisis would continue to weigh on market sentiment. However, anticipation of tight supply might hold prices from falling further, they added.
For the week just-ended, the rubber market was quiet on most days in tandem with the weak performance of rubber futures markets in the region.
On a week-to-week basis, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 fell 35.5 sen to 1,057.5 sen per kg while latex-in-bulk decreased 21 sen to 729 sen per kg.
The unofficial sellers' closing price for tyre-grade SMR 20 lost 42 sen to 1,050 sen per kg and latex-in-bulk dropped 24.5 sen to 725 sen per kg. Bernama
